Bank of Canada Cuts Key Lending Rate by 0.5%

For the second consecutive month, the Bank of Canada has announced a 0.5% cut in the bank rate - this month, from 3.75% to 3.25%. In implementing the cut, the Bank cited weakened growth in the global economy, reflecting the effects of the recent sharp economic slowdown in the U.S. The Bank also indicated that it expects a "deeper and more protracted slowdown" in the U.S. economy, with direct consequences for the Canadian economic outlook.
The next interest rate announcement is scheduled to take place on June 10. (Click Here...)